The Faceter ICO presale broke records yesterday when it managed to raise over $10 million in just 20 seconds. This is unprecedented movement for a pre-ICO, especially considering many ICO startups don’t take off at all.
Faceter wants to be the first decentralized surveillance system for consumers. State-of-the-art surveillance equipment is too expensive for the average consumer, but affordable surveillance systems are not equipped with security measures such as facial recognition. So, how do you solve this problem? Enter Faceter.
Faceter is creating video surveillance systems that operate seamlessly with enhanced facial detection, object detection, and real-time video analysis. The algorithm behind Faceter has been tested and approved by LFW and MegaFace, both accredited facial recognition databases and datasets. Basically, it can understand what it is seeing and respond to it. This means that Faceter systems can alert the user to someone’s presence. For example, when a person set to trigger the system walks by a camera, the system will send a push notification to the user’s phone. This would be beneficial not only for security purposes but also for marketing.
That’s just the beginning though. According to the roadmap, in 2019 Faceter is planning to introduce body recognition. This means that even if the face is hidden, Faceter surveillance systems will be able to recognize a person based on their height, weight, and build. Sex, age, race, and even emotions are being worked on in 2018.
Faceter began Whitelisting on January 29th, 2018, and within four days over 8,000 Whitelist applications were received from 152 countries. The 8 million FACE tokens originally available for the presale weren’t enough and Faceter ended up including in the presale tranches of tokens that had been meant for the token sale. Because of the massive success of Faceter’s ICO presale, the token sale has been moved up to begin on February 15th, 2018 (originally scheduled for March 10th). The token sale will also be based on a Whitelist.
Of its success, Faceter CEO Robert Pothier stated, “Such amazing support shows us how many people share our vision of the future, and we are humbled. We believe that advanced AI-based software should be available for everyone, especially in the realm of intelligent surveillance. We really want to make the world a safer and more pleasant place to live and we are glad that we have so many supporters who have come forward to play their part.”
The success of the Faceter presale shows the optimism felt by the team in an earlier tweet (seen below).
The crypto community is responding positively to Faceter. Not only was there the record-breaking presale, but Faceter has also already been approached by 83 businesses seeking partnerships. The ICO has also been receiving top ratings on sites such as ICOBench (4.6), FoundICO (9.6), and TrackICO (5.0).
The token distribution can be seen below:
Updated March 1, 2018.
Since the success of its pre-sale, Faceter has been busy. Most recently, Faceter announced that it would be partnering with Ambisafe Software, a b2b product company. Ambisafe will provide security audits and develop a smart contract for Faceter. The smart contract will follow through on a promise of the Faceter White Paper, that is to reserve FACE tokens for Faceter team members for two years. The code for the smart contract will be published on GitHub.
With CCTV everywhere surveillance is unavoidable. Will Faceter be able to capitalize on this?
Featured image: ICOBuffer